Sonoco Products (NYSE:SON) Shares Sold by Evanson Asset Management LLC

Evanson Asset Management LLC decreased its position in Sonoco Products (NYSE:SON) by 6.7% during the 3rd quarter, Holdings Channel reports. The fund owned 3,197 shares of the industrial products company’s stock after selling 231 shares during the quarter. Evanson Asset Management LLC’s holdings in Sonoco Products were worth $175,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rise Advisors LLC acquired a new stake in Sonoco Products in the first quarter valued at about $26,000. FinTrust Capital Advisors LLC raised its position in Sonoco Products by 78.8% in the first quarter. FinTrust Capital Advisors LLC now owns 490 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 216 shares in the last quarter. Allspring Global Investments Holdings LLC acquired a new stake in Sonoco Products in the first quarter valued at $50,000. Abich Financial Wealth Management LLC purchased a new stake in shares of Sonoco Products during the 2nd quarter worth $50,000. Finally, Gradient Investments LLC acquired a new position in shares of Sonoco Products during the 2nd quarter worth $58,000. 77.69% of the stock is currently owned by institutional investors and hedge funds.

Sonoco Products Price Performance

Shares of NYSE:SON opened at $52.98 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.85 and a current ratio of 1.30. The business’s fifty day moving average price is $53.18 and its two-hundred day moving average price is $55.06. The stock has a market cap of $5.21 billion, a PE ratio of 13.38, a price-to-earnings-growth ratio of 2.08 and a beta of 0.68. Sonoco Products has a one year low of $48.22 and a one year high of $61.73.

Sonoco Products (NYSE:SON) last posted its quarterly earnings data on Wednesday, July 31st. The industrial products company reported $1.28 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.02. Sonoco Products had a return on equity of 20.10% and a net margin of 5.57%. The business had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.69 billion. During the same quarter last year, the company earned $1.38 earnings per share. The business’s revenue for the quarter was down 4.8% compared to the same quarter last year. On average, analysts forecast that Sonoco Products will post 5.09 EPS for the current fiscal year.

Sonoco Products Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 10th. Stockholders of record on Friday, August 9th were given a $0.52 dividend. This represents a $2.08 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Friday, August 9th. Sonoco Products’s dividend payout ratio is presently 52.53%.

Analyst Ratings Changes

SON has been the topic of several recent analyst reports. Citigroup upped their target price on shares of Sonoco Products from $62.00 to $63.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company downgraded Sonoco Products from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $54.00 to $52.00 in a research note on Wednesday, August 21st. Raymond James started coverage on Sonoco Products in a report on Friday, July 19th. They issued an “outperform” rating and a $62.00 target price on the stock. Finally, StockNews.com downgraded Sonoco Products from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $59.00.

Sonoco Products Profile

Sonoco Products Company, together with its subsidiaries, designs, develops, manufactures, and sells various engineered and sustainable packaging products in North and South America, Europe, Australia, and Asia. The company operates Consumer Packaging and Industrial Paper Packaging segments. The Consumer Packaging segment offers round and shaped rigid paper, steel, and plastic containers; metal and peelable membrane ends, closures, and components; thermoformed plastic trays and enclosures; and high-barrier flexible packaging products.